2021 Rate of Inflation at a 40-year High
Last year U.S. consumers paid much more for a broad range of consumer goods and services, thus driving our annual inflation rate to its highest point since 1980 according to government data released Jan. 12. And, like always, ProAPOD updated the Inflation Rate Calculator in its Pro RE Calculator solution accordingly.
As a result, you can now calculate inflation rates from 1913 thru 2021.
According to your father, in 1943 your grandfather put aside $15.00 at his birth as a gift. You want to know how much that would equate to if you were going to make a similar monetary gift to your son today in 2021. Here are the steps:
- Login to Pro RE Calculator
- Select the category Time Value
- Open the Inflation Rate calculator
- Select 1943 as the starting year
- Enter 15 as the dollar amount spent
- Select 2021 as the ending year
- Click Calculate
RESULT: $241.74 and 1511.6%.
Explanation: Due to a cumulative increase in the U.S. annual inflation rate since 1933 of 1511.6%, you will have to spend $241.74 to set aside a similar gift in 2021.
Note You can watch a video presentation of the inflation rate calculator in action here: Watch a sample inflation rate calculation
1. The Inflation Rate Calculator does not limit you either to the years, or the amount you want to compute. You can select any starting year from 1913 to the present, and enter any dollar amount you wish.
2. Pro RE Calculator users never pay for updates. The Inflation Rate calculator will automatically reflect this latest update the next time you calculate. You do nothing.
So You Know
The Inflation Rate Calculator is just one of 62 online calculators included in Pro RE Calculator. Visit the ProAPOD website and check them all out by clicking Products > Pro RE Calculator, or simply click here: Pro RE Calculator